Macquarie conditional investment right for Polaris Forge 1 additional phases
Company: Applied Digital - Project: Polaris Forge 1
The claim, verbatim
Macquarie has the right to invest an additional $337.5 million in two tranches of $168.75 million each to fund development of additional phases of Polaris Forge 1, conditional upon completion of specified debt financings and satisfaction of other conditions
Source (primary)
Applied Digital 8-K filed 2025-10-09 (SEC EDGAR, sec_filing)
View cached copy (2026-08-31)Live source ↗
Quote: “The Purchaser has the right to invest an additional $337.5 million to fund the development of additional phases of the Polaris Forge 1, in two tranches of $168.75 million each, following the Subsidiary Issuer's completion of specified debt financings and satisfaction of other conditions set forth in the A&R UPA”
How we checked this
Checked on September 16, 2026. The cited source supports every part of this claim.
Every element of this claim appears in the A&R LLCA terms described in the filing.
Confirmed in the source:
- The Purchaser has the right to invest an additional $337.5 million to fund additional phases of Polaris Forge 1
- The additional investment comes in two tranches of $168.75 million each
- The additional investment follows the Subsidiary Issuer's completion of specified debt financings and satisfaction of other conditions in the A&R UPA
What we did: Read our cached copy of SEC EDGAR (https://www.sec.gov/Archives/edgar/data/1144879/000149315225017609/form8-k.htm) in full (22,804 characters, retrieved August 31, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms Applied Digital 8-K filed 2025-10-09
Quote: “The Purchaser has the right to invest an additional $337.5 million to fund the development of additional phases of the Polaris Forge 1, in two tranches of $168.75 million each, following the Subsidiary Issuer's completion of specified debt financings and satisfaction of other conditions set forth in the A&R UPA”